(PharmaNewsWire.Com, April 16, 2018 ) The Global Biopsy Devices Market was worth $1550 million in 2016 and estimated to be growing at a CAGR of 7.4%, to reach $2214.89 million by 2021. Biopsy devices help in performing integrated procedures that are important to perform biopsies in critical areas of the body such as the lungs, liver, and kidney.
Biopsy is the surgical removal of tissue from an organ to find out the presence or level of a disease, mostly cancerous and inflammatory conditions. This diagnostic process is usually performed by surgeons, radiologists, and interventional cardiologists, to substantiate the presence of cancerous tissue.
Increasing incidences of cancer such as breast, prostate, lung, and rapid technological advancements have been stimulating the growth of the biopsy devices market. Additionally, increase in awareness for the diagnosis of chronic diseases is also rising the demand for integrated biopsy technologies such as MRI-guided biopsy. Lack of or poor awareness of the diagnosis of chronic diseases is a major restrain for the market.
The global biopsy devices market is segmented on the basis of product into instruments and consumables. Instruments segment is further segregated into manual, automated and semi-automated. Consumables segment is sub-segmented into reagents and kits. On the basis of type the market is bifurcated into needle biopsy and surgical biopsy. Needle biopsy segmented is further segmented into core needle biopsy, fine needle biopsy and vacuum-assisted biopsy. Surgical biopsy segment is divided among Incisional biopsy and Excisional biopsy. Based on application the market is segregated into scientific research, medical diagnosis, agricultural applications and genetic fingerprinting & sex determination. By End User, the market is divided into pharmaceutical and biology industry, academic research institute, contract research organizations and forensic labs.
Based on geography the market is analysed under various regions namely, North America, Latin America, Europe, Asia-Pacific and Middle-East & Africa. North America holds the biggest share in the global biopsy device market due to increasing geriatric population. Europe holds the second major market for biopsy devices owing to acceptance of advanced technology in biotechnology and research sector and innovation technologies. Asia pacific is estimated to represent strong potential market growth in the biopsy devices market due to fast technological advancements.
The key companies dominating the biopsy devices market are Medtronic, Leica Biosystems, Hologic Inc., Boston Scientific Corporation, Becton, Cook Medical Inc., C.R. Bard Inc., Mauna Kea Technologies, Ethicon EndoSurgery Inc., Veran Medical Technologies, Dickinson and Company, Fujifilm Medical Systems, MDxHealth, Argon Medical Devices Inc and Intact Medical Corp.
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